Box Raises $125 Million

When Box started in 2005, Aaron Levie entered the company in a college business plan competition. About a year later, he launched the enterprise file sharing and storage company known as Box. Now Box has raised $125 million in additional funding and is now worth $1.2 billion on paper. Box has raised a total of $284 million.

Dropbox currently has a $4 billion valuation. Levie is 27-years old and Dropbox founder Drew Houston is 29-years old. General Atlantic led this round of funding in Box. Social + Capital Partnership participated in this round.

Former General Electric CIO Gary Reiner and current operating partner at General Atlantic is joining the Box board of directors. Box has around 500 employees and is targeting an IPO for 2013.

“We can do way more as a private company than we can as a public company,” stated Levie in an interview with AllThingsD. “Taking this round gives us the foundation to build the foundation we need.”